The present invention relates to a method for preparing an aluminum-copper-iron quasicrystal and silicon carbide mixed reinforced aluminum matrix composite, where the aluminum-copper-iron quasicrystal and silicon carbide mixed reinforced aluminum matrix composite is prepared with an aluminum alloy serving as a matrix and with aluminum-copper-iron quasicrystal and silicon carbide serving as reinforcement agents via smelting in an intermediate-frequency induction melting furnace through the process of intermediate-frequency induction heating, vacuumizing, bottom blowing argon, and casting molding in view of low hardness and low tensile strength of aluminum matrix materials. The prepared aluminum-copper-iron quasicrystal and silicon carbide mixed reinforced aluminum matrix composite has a hardness of 80.3 HB which is improved by 50.64% and tensile strength of 285 Mpa which is improved by 60.42%, and corrosion resistance thereof is improved by 40%.